Zeeee inflation is wrong! Nein!
German HICP corrected lower to -0.3% y/y vs -0.1% reported yesterday. It's not clear if that's factored into today's European HICP reading.
The European HICP was -0.2% y/y today on the flash reading compared to -0.1% expected. Unless the Germans told them earlier today, that could be revised even lower.
Not that it matters in FX today with the euro up 100 pips as the dollar wilts.
Germany's stats office made the correction a short time ago. I suspect a deep-seated pathological fear of inflation at the stats office led someone to conclude that prices couldn't fall so they changed the - to a + on the release.
